WOODSTOCK, Ill. – The application period to participate in the Senior Citizens Real Estate Tax Deferral Program opened today, Jan. 2, 2025, McHenry County Treasurer Donna Kurtz announced.

The program, which provides tax relief for qualified senior citizens by essentially providing a loan up to $7,500 to pay a senior’s property tax bill, is open to applications through March 1. Starting last year, the State of Illinois which grants the funds halved the interest rate from 6% to 3%.

 “The Senior Citizens Real Estate Tax Deferral Program offers our seniors a cost-effective way to defer their property-tax bill if they need to, which frees up funds needed to pay for other pressing expenses,” Kurtz said. “I encourage seniors to consider whether this program is right for them, and to watch for dates and times of presentations my office will be hosting in the coming weeks to explain the program and help them make an informed decision.”

 To be eligible for this program, an applicant must be at least 65 years old by June 1, and have a total household income less than $65,000. Other program requirements include: 

• Living on the property or other qualifying property for the last two years,
• Having equity in the property,
• Having no unpaid property taxes or foreclosures, and
• Having fire and casualty insurance for the property.

Upon qualification, a lien for the deferred amount will be filed on the qualifying property. Deferred amounts are repaid upon the sale or transfer of the property, or within one year of the property owner’s death.

 Applications can be found at treasurer.mchenrycountyil.gov, and must be received by March 1; there will be no extensions. For questions, please visit the Treasurer’s website or contact them at 815-334-4260 or treasurer@mchenrycountyil.gov.

 In addition, Kurtz encourages seniors to make sure they are taking advantage of the multiple exemption options that are available to ease their property-tax burden. To learn more about these exemptions, contact the McHenry County Assessments Office at 815-334-4290 or email assessments@mchenrycountyil.gov.

 Kurtz’s office will soon be announcing the dates and locations of presentations to explain and promote the program, and answer questions regarding completing and submitting an application.